$89m for Archon Fund.GE Real Estate announced it provided three floating rate mortgage loans totalling $89.5 million to the Archon Core Plus Real Estate Fund 2005, L.P., a new fund sponsored by Whitehall Whitehall, cities, United States Whitehall. 1 City (1990 pop. 20,572), Franklin co., central Ohio, a suburb of Columbus; inc. 1948. Manufactures include water coolers and packaged meats. and Archon focused on investments in multi-family properties throughout the U.S. The new fund will use the capital to acquire three Class A apartment complexes located in Oceanside Oceanside. 1 City (1990 pop. 128,398), San Diego co., S Calif., on the Gulf of Santa Catalina; inc. 1888. It is a commercial and trading center for an inland farm area and for nearby Camp Pendleton, a huge U.S. marine corps amphibious base. , CA, Scottsdale Scottsdale, city (1990 pop. 130,069), Maricopa co., central Ariz.; settled in 1895 by Winfield Scott, inc. 1951. It is a resort and retirement center in the Phoenix metropolitan area. , AZ and Austin Austin. 1 City (1990 pop. 21,907), seat of Mower co., SE Minn., on the Cedar River, near the Iowa line; inc. 1868. The commercial and industrial center of a rich farm region, it is noted as home to the Hormel meatpacking company, whose Spam Town museum , TX. The on-book, three-year loans were creatively structured to provide the fund with two, one-year extension options. Its pricing reflected the opportunity fund's 25-30 percent equity contributions on each acquisition. The deal was originated by GE Real Estate's Strategic Capital Group (SCG SCG Serbia and Montenegro SCG Srbija I Crna Gora (Servian: Serbia and Montenegro) SCG Sydney Cricket Ground SCG Service Canadien des Glaces (Canadian Ice Service) SCG superior cervical ganglion ), which primarily works with opportunity funds, REITs and other institutional borrowers on large, complex portfolio acquisitions. "We appreciate the opportunity to further our relationship with Archon, which has a stellar reputation for assessing and optimizing the underlying value of real estate assets," said Skip Wells, Managing Director of the SCG business unit. |
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